Newell Brands Completes Divestitures of Pure Fishing and Jostens

HOBOKEN, N.J.— Newell Brands Inc. (NASDAQ:NWL) announced today that it has completed divestitures of two businesses, Pure Fishing and Jostens, as the company continues to execute on its Accelerated Transformation Plan, designed to create a simpler, faster, stronger consumer-focused portfolio of leading brands.

Newell Brands has completed the sale of Pure Fishing to Sycamore Partners. Pure Fishing is a leading global provider of fishing tackle, lures, rods and reels, with a portfolio of brands that includes Abu Garcia®, All Star®, Berkley®, Chub®, Fenwick®, Greys®, Hardy®, Hodgman®, Johnson™, JRC®, Mitchell®, Penn®, Pflueger®, Sebile®, Shakespeare®, SpiderWire®, Stren®, and Ugly Stik®.

Newell Brands has also finalized the divestiture of Jostens to Platinum Equity. Jostens’ products comprise yearbooks, publications, jewelry and consumer goods that serve the K-12 educational, college and professional sports segments.

Combined gross proceeds from both transactions were approximately $2.6 billion. The company continues to anticipate approximately $2.5 billion of after-tax proceeds from these divestitures, subject to customary working capital and other transaction adjustments. Proceeds are expected to be used for debt paydown and share repurchase.